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U.S. President Biden will travel to Syracuse, New York, to announce a preliminary agreement with chip manufacturer Micron Technology to provide up to $6.14 billion in subsidies. The agreement is based on the Chip and Science Act of 2022 and aims to promote domestic chip manufacturing and reduce dependence on China and Taiwan.
Micron will build factories in Clay, New York, and Boise, Idaho, with a total investment of approximately US$100 billion and the creation of 70,000 jobs. Biden will use it to promote efforts to revitalize U.S. manufacturing and strengthen national security. The agreement also includes at least $40 million for training and workforce development and commits to affordable, high-quality child care and worker rights.
(Source: reuters Image source: freepik)
